Dash Launches Text-Based Crypto Payment Service in Venezuela

Twitter Facebook LinkedIn Crypto project Dash has announced the launch of Dash Text, an SMS-based cryptocurrency transaction service for Venezuelan users, as it builds on its already strong presence in the crypto dependent country. In an announcement released this week, the company said that Dash Text eliminates the need for Venezuelan users to possess smartphones …

Bitcoin Trading Volumes in Venezuela Reach Record Highs amid Hyperinflation

As the economic crisis in Venezuela worsens leading to a growing exodus of citizens out of the country, the demand for bitcoin and other cryptocurrencies has exploded. According to Coin Dance, Venezuelans traded bitcoins worth nearly 300 million bolivars last week and the record could be broken again as so far this week bitcoin worth …

Venezuela Looking to Launch a Central Bank for Cryptocurrencies

Venezuela is reportedly looking to lunch a central bank for cryptocurrencies, as the country’s National Constituent Assembly is preparing to reform the Venezuelan Constitution to include it, along with a court above its Supreme Court. According to Reuters, information on the development was provided by Hermann Escarrá, which the outlet describes as “one of the …

Bolivar to Bitcoin Trading Surpasses a Record $1 Million per Day

Join our community of 10 000 traders on Hacked.com for just $39 per month. Venezuela’s economic situation has been steadily declining in the past few years, bringing Venezuelans to turn to cryptocurrencies. According to VeneBloc data, the bolivar-to-bitcoin market recently reached a new record, as the equivalent of $1.009 million in bolivars were exchanged for …

Venezuela’s Bolivar Sees 454% Inflation in Q1 as Maduro Hawks the Petro

Join our community of 10 000 traders on Hacked.com for just $39 per month. Runaway inflation continues to devalue the Venezuelan Bolivar (VEB), even as the country’s authoritarian government seeks to divert attention from the floundering economy by hawking its “Petro” cryptocurrency. According to Reuters, prices in Venezuela rose by 454 percent during the first …

Petro’s Impact Will Be Felt Within “Three to Six Months”

Join our community of 10 000 traders on Hacked.com for just $39 per month. During an interview with Venezuela’s Cuatro F newspaper, the executive secretary of the country’s Blockchain Observatory, Daniel Peña, stated that he believes the Petro (PTR), Venezuela’s oil-backed cryptocurrency, will positively impact the country’s economy within “three to six months.” During the …

Venezuela’s Petro Undermines Legitimate Cryptocurrencies

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Brookings Institute analysts recently argued that Venezuela’s oil-backed cryptocurrency, the Petro (PTR), is likelier to harm legitimate cryptocurrencies like Bitcoin and Ethereum, than it is o help Venezuelan’s escape the recession the country is currently enduring. Through an article published on its …

Venezuela’s Petro “May Help the Global Currency System”, Says Chinese Financial Agency Dangong

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. Dagong Global Credit Rating, one of China’s biggest credit rating agencies, recently published a report commenting on Venezuela’s oil-backed cryptocurrency, the Petro (PTR). Per the report, the cryptocurrency “may help the global currency system return to its basic value.” While the agency …

Venezuelan President Claims ‘Petro’ Has Received 171,000 Pre-registrations

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. The initial coin offering (ICO) presale for Venezuela’s high-profile ‘Petro’ cryptocurrency has been a resounding success — at least according to state-run media outlets. Venezuela Claims ‘Petro’ Cryptocurrency Has Received 171,000 Intents to Contribute On Monday, Nicolas Maduro announced through the official …

Venezuela Rejects “False Information” on Petro Whitepaper

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. The Venezuelan government has recently stated that “false information” about its oil-backed Petro cryptocurrency has been published online. According to Reuters, the government is rejecting a leaked, allegedly fake, Petro whitepaper. The superintendence of Venezuelan Cryptoassets and Related Activites, bullishly announced late …